Auxier Asset Management Purchases 1,850 Shares of American International Group, Inc. (NYSE:AIG)

Auxier Asset Management raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,174 shares of the insurance provider’s stock after buying an additional 1,850 shares during the period. American International Group comprises approximately 1.2% of Auxier Asset Management’s investment portfolio, making the stock its 24th biggest position. Auxier Asset Management’s holdings in American International Group were worth $7,882,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AIG. Fortitude Family Office LLC boosted its holdings in American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the second quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of American International Group during the first quarter valued at $29,000. Valued Wealth Advisors LLC grew its holdings in shares of American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.2 %

NYSE AIG opened at $73.76 on Friday. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83. The company has a 50 day moving average price of $74.55 and a 200 day moving average price of $75.67. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market cap of $48.95 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. As a group, sell-side analysts forecast that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 14,964,738 shares of company stock worth $400,732,195. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the topic of a number of research analyst reports. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods reduced their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Piper Sandler decreased their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup dropped their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, TD Cowen decreased their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.88.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.